Both sides of politics have congratulated Donald Trump on his historic US presidential election win, insisting the US-Australian relationship will keep prospering even as Labor insiders admit to nervousness about the AUKUS submarine deal and climate policy.
As MPs across the political spectrum scrambled to absorb the magnitude of Mr Trump's sweep of the White House, Senate and potentially the House of Representatives, Mr Albanese put a brave face on the re-election of a man he described in 2017 as scaring him.
While acknowledging outgoing President Joe Biden as a "friend", Prime Minister Anthony Albanese said Australia would strive to strengthen cooperation with the US in the Indo-Pacific.
"Our government will work closely with the new Trump administration to realise the benefits of our strong economic partnership," he said.
"Australia and America are old allies and we are true friends."
"Our nations are bound by a history of shared sacrifice, a commitment to common values and — above all — enduring respect and affection between our peoples.
"I look forward to talking with President Trump and working with him in the best interests of both our nations."
Peter Dutton hopes for renewed energy and confidence
Opposition leader Peter Dutton echoed the sentiments, and said he hopes the two countries can "draw renewed energy and confidence from the things that unite the American and Australian people: the principles we hold dear, the patriotism that drives us, and the pragmatism that defines us".
Australian Opposition Leader Peter Dutton says he hopes for American prosperity under Donald Trump's second presidency. (AAP: Bianca De Marchi)
"The United States has been an overwhelming force for good in the world. When our close ally is strong and at its best, the world is at its best," he said.
"May the years ahead be some of the most defining for our Alliance in which, driven by tests of our times, the necessity of deterrence, and the cause of securing peace through strength, we unleash the defence, industrial and economic opportunities of AUKUS at speed and scale."
The positive rhetoric belied some of the shock Mr Trump's election caused for much of the Labor caucus.
Question Time on Wednesday began at 2pm as the election count intensified in the US, with The New York Times live forecasting tracker showing Mr Trump's chances of victory stood at 71 per cent.
A little over an hour later, as Question Time drew to a close, that probability had increased to 89 per cent.
Watching those numbers tick up, MPs on both sides of the chamber appeared largely to ignore proceedings as they concentrated on mobile phones and laptops.
As Mr Trump's numbers improved, the opposition side of the chamber sounded increasingly boisterous while on the Labor benches the mood was sombre.
Labor can learn lessons from US election, insiders say
One Labor source told the ABC there were stark lessons for Labor from Mr Trump's success, which saw the Republicans draw strong support from blue collar male voters, as well as Americans who voted on "hip pocket" issues.
Even though the US economy is strong, voters "personally felt shafted", the person observed of the US vote, as prices remain elevated for most households.
Sobering for Labor is the fact that Vice President Kamala Harris's defeat adds to a long list of incumbent governments that have fallen in the face of the global cost-of-living crisis both within Australia and around the world.
One senior source said the result could also jeopardise Australia's $368 million deal with the US to acquire nuclear submarines if Mr Trump decides instead that the boats should be retained by the US Navy.
Another Labor source noted that Mr Trump's opposition to the Paris climate deal "makes life difficult for us" on energy and emissions policies.
While some of those fears may eventually be eased, the prime minister is set to be tested in the coming days and weeks when he interacts with Mr Trump for the first time.
While Mr Trump is known for taking a transactional approach to international relations, there will be sensitivity in diplomatic circles about the appearance this week of a video showing Mr Albanese at a music event in 2017 during which he criticised the president elect.
Mr Albanese, who was opposition spokesman for transport at the time, said "you've got to deal with him, but that doesn't mean that you're uncritical about it".
"He [Trump] scares the sh*t out of me and I think it's of some concern the leader of the free world thinks that you can conduct politics through 140 characters on Twitter overnight."
The government, including Defence Minister Richard Marles, have downplayed concerns about the remarks, but the opposition will be watching closely for signs of weakness by the prime minister when negotiating with Mr Trump.
Greens leader Adam Bandt said Mr Trump's win was a "pretty terrifying outcome" and urged Mr Albanese to immediately withdraw from the AUKUS security pact.
"We must be able to make our own decisions about defence and foreign policy," he posted on X. "We cannot be tied to a dangerous demagogue".